SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 2.60%.

As we have mentioned last week, that resistance for the stock lies in the zone of 550 to 555. If the stock manages to close above these levels then the stock can move to the levels of 580 to 585 where 200 daily moving averages are lying. During the week the stock manages to hit a high of 572 and close the week around the levels of 551.

Minor support for the stock lies in the zone of 540 to 545. Support for the stock lies in the zone of 520 to 525 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 505 where break out levels are lying.

Resistance for the stock lies in the zone of 565 to 575 from where the stock sold off in the month of July-2017. If the stock manages to close above these levels then the stock can move to the levels of 585 to 590 where 200 daily moving averages are lying.

Broad range for the stock in the coming week can be 520 – 525 on lower side & 570 – 575 on upper side.